In a first, trade activities between Pakistan and Russia have begun under the TIR Convention and cargo trucks have arrived in Pakistan from Moscow via the Torkham border crossing.
According to the Customs officials, this is the first time that Pakistan and Russia have started trade activities under the TIR Convention, which the two countries signed in March this year.
Customs officials says that cargo trucks have brought yarn and chickpeas from Russia. They said that these cargo trucks would be allowed to go to their destinations after Customs clearance.
Under the Convention, Pakistan will supply 26 items to Russia, including rice, medicines, fruits and sports goods. In return, Russia will supply 11 items to Pakistan, including wheat, lentils, yarn and petroleum products.
In a statement on commencement of trade activities between the two countries, Pakistan’s Federal Minister for Communications Maulana Asad Mahmood said that Russia was the fourth largest country in the world in terms of exports. He said that bilateral trade between the two countries would boost their economic progress. He said that Pakistan was capable of exporting dry fruits, garments, surgical instruments and agri products to Russia.
The Transport International Routes (TIR) Convention is an international agreement on road transport under which imports and exports are carried out by road between different countries without hindrance.
Citrus food was exported by Pakistan to Russia for the first time in 2021 under the supervision of the United Nations.
According to the European Union, 66 countries had signed the TIR agreement till 2020. Under this agreement, all imports and exports are organized by the International Road Transport Union and trucks are given a special permit. National customs documents are not required under this convention.
Pakistani currency remains unchanged against US Dollar and other currencies on April 26, 2024 Friday in open market.
US dollar was being quoted at 277.15 for buying and 280.15 for selling.
Euro comes down to 294 for buying and 297 for selling while British Pound hovers at 342.5 for buying, and 346 for selling.
UAE Dirham AED was at 74.95 and Saudi Riyal's new rate was at 73.30.
Currency | Symbol | Buying | Selling |
US Dollar | USD | 277.15 | 280.15 |
Euro | EUR | 294 | 297 |
UK Pound Sterling | GBP | 342.5 | 346 |
U.A.E Dirham | AED | 74.95 | 75.75 |
Saudi Riyal | SAR | 73.30 | 74 |
Australian Dollar | AUD | 178.5 | 180 |
Bahrain Dinar | BHD | 740.57 | 748.57 |
Canadian Dollar | CAD | 200.8 | 203 |
China Yuan | CNY | 38.45 | 38.85 |
Danish Krone | DKK | 39.93 | 40.33 |
Hong Kong Dollar | HKD | 35.55 | 35.9 |
Indian Rupee | INR | 3.34 | 3.45 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 903.61 | 912.61 |
Malaysian Ringgit | MYR | 58.28 | 58.88 |
New Zealand Dollar | NZD | 164.22 | 166.22 |
Norwegians Krone | NOK | 25.46 | 25.76 |
Omani Riyal | OMR | 723.48 | 731.48 |
Qatari Riyal | QAR | 76.52 | 77.22 |
Singapore Dollar | SGD | 204.5 | 206.5 |
Swedish Korona | SEK | 25.72 | 26.02 |
Swiss Franc | CHF | 305.43 | 307.93 |
Thai Bhat | THB | 7.51 | 7.66 |
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